1. Three employees are retiring from Jefferson City. Your job as the human resource officer is to calculate their pension payments using the following information. Use the model in Exhibit 3.1 to assist you in completing this problem. Calculate: Total % value PP, Average Final Compensation, Annual Benefit, and Monthly Benefit. Turn in the short version Excel worksheet to your professor (See Appendix 3C).

Employee 1 Mary Rademacher

1. Has 31 years of service and is 63 years of age.
2. 5 highest years of salary are: $20,904; $21,398; $22,198; $34,239; &

$36,908.

Employee 2 Steffanee Richardson

1. Has 32 years of service and is 64 years of age.
2. Five highest years of salary are: $29,504; $30,698; $32,798; $36,839; & $38,508.

Employee 3 Charlie Parker

1. Has 34 years of service and is 69 years of age
2. Five highest years of salary are: $49,904; $51,899; $57,678; $61,742; & $64,108.